JPMorgan's Jamie Dimon: "I have no use for bitcoin, I will never buy it."

CEO Jamie Dimon stated at the Australian Financial Review Business Summit in New York that he defends everyone's right to buy Bitcoin, but he himself will never buy it and does not see the use of Bitcoin.

Fed Should Consider Rate Cuts After June

According to CNBC report, Jamie Dimon discussed the U.S. economy at a summit, expressing personal optimism but also concerns about inflation and potential economic downturn.

Key points include:

• The Fed should consider rate cuts after June to strengthen the central bank's credibility in combating inflation.

• The U.S. economy is performing strongly, but market expectations of an economic soft landing may be overly optimistic.

• The probability of an economic recession is about 65%, while the occurrence of stagflation is not ruled out.

• The recent rise in bond and stock markets exhibits bubble characteristics, partly due to fiscal and monetary stimulus measures during the pandemic.

Jamie Dimon: "I Don't Know What Bitcoin Is For"

Despite JPMorgan still being Authorized Participants for Bitcoin spot ETF, Jamie Dimon has consistently criticized Bitcoin, including claims that Bitcoin is mainly used for illegal activities like money laundering and illicit transactions.

Exclusive | Bitcoin Spot ETF Trading Analysis: Is JPMorgan Actually Accumulating Long Positions in Bitcoin?

In this discussion, he stated:

"I don't know what Bitcoin is for, but I defend your right to smoke, I defend your right to buy Bitcoin, personally, I will never buy Bitcoin."

Dimon also mentioned the application of AI, emphasizing that JPMorgan has 2,000 employees assisting the bank in integrating over 400 AI use cases, and he uses AI at home to summarize books he doesn't have time to read.

JPMorgan CEO: Bitcoin's Actual Use is Money Laundering, Satoshi Nakamoto Will Change the Total Supply Limit